Why Is Crypto Down Today? AI-Spending Fears, $111 Oil and ETF Outflows Pull Bitcoin to $81K
Photo: Blockchain Reporter
Crypto is down today because a selloff in technology stocks, oil above $111 a barrel and the largest Bitcoin ETF outflow since June hit the market within a single day, and the drop forced leveraged traders out of their positions. Bitcoin fell from a high of about $84,778 on Wednesday to a low of $80,989 on Thursday and traded near $81,800 on Friday morning, about 2.7% below Wednesday’s close. The total crypto market is worth about $2.76 trillion, down roughly 2.2% in 24 hours, according to CoinGecko. Altcoins fell harder.
Source: Blockchain Reporter
